Aggregate profits at Chinese steel companies are off 96% Y/Y through H1, according to the...

|By:, SA News Editor

Aggregate profits at Chinese steel companies are off 96% Y/Y through H1, according to the country's Iron & Steel Association. Profit margins have slumped to just 0.13% from 3.06% as massive production overcapacity has the nation continuing to pump more metal out than the domestic and global economy needs. AreclorMittal (MT) earnings.